Asia and Pacific > Sri Lanka
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Abstract
This paper reviews key findings of the IMF’s Annual Report for the fiscal year ended April 30, 1980. The report highlights that during the period from the beginning of 1979 to the middle of 1980, the world economic situation was marked by three disturbing features. Rates of inflation in most countries remained high and, indeed, accelerated. Growth of real output in the industrial countries began to slow down markedly, threatening to halt the expansion of world trade. Large surpluses and deficits reemerged in the external balances on current account for major groups of countries.
Abstract
This paper reviews key findings of the IMF’s Annual Report for the fiscal year ended April 30, 1976. The report highlights that in mid-1976, the world economy was completing the first year of recovery from its most severe recession in four decades. Production in the industrial countries was again expanding at a satisfactory pace, and rates of inflation were considerably below those experienced in 1974 and the first half of 1975. By the past standards, however, both unemployment and inflation remained exceptionally high for the early phase of a cyclical upswing.